Steve McIntosh Report Blog Archive

The good part of the debt debate

by Steve McIntosh,posted Aug 4 2011 1:13AM

I’ve been doing this commentary program on radio for nearly 40 years, and I’ve devoted a good many Mac Reports to federal deficit spending and the national debt. Simply, I’m against it … and have been since Nixon was in the White House.

I don’t know if all those commentaries did any good. Americans have never shown a lot of interest in fiscal responsibility. If nothing else, we can thank the TEA Party for helping to put the issue on Americans’ radar screen.

Now comes the tough part. The politicians are going to have to deal with entitlements and spending, and that must include the military … which takes the biggest piece of the pie.

Make no mistake, cutting federal spending will hurt many companies that do business with the government … and jobs will be lost. We should also realize that to even approach a balanced budget, we’ll need more revenue.

Fiscal responsibility in big doses can mean pain for many Americans. That’s why we should have been doing it in smaller doses over the last ten years … since the last balanced federal budget.

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Our thought for today is from Abraham Lincoln:

“You cannot escape the responsibility of tomorrow by evading it today.”